Texas Pacific Land (NYSE:TPL) Reaches New 1-Year Low – Should You Sell?

by · The Markets Daily

Texas Pacific Land Corporation (NYSE:TPL – Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $838.27 and last traded at $845.9550, with a volume of 80469 shares traded. The stock had previously closed at $876.72.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Tudor Pickering raised shares of Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Get Our Latest Stock Analysis on Texas Pacific Land

Texas Pacific Land Trading Down 2.2%

The firm has a 50-day simple moving average of $935.90 and a two-hundred day simple moving average of $1,007.05. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 42.68 and a beta of 1.12.

Texas Pacific Land (NYSE:TPL – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.77 by ($0.50). The firm had revenue of $203.10 million for the quarter, compared to analyst estimates of $175.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. Texas Pacific Land’s payout ratio is currently 30.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Texas Pacific Land by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,581,228 shares of the financial services provider’s stock worth $2,409,938,000 after buying an additional 189,842 shares during the last quarter. TD Asset Management Inc grew its stake in Texas Pacific Land by 1,104.4% in the 2nd quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock valued at $101,543,000 after buying an additional 88,142 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in Texas Pacific Land in the 2nd quarter valued at $92,167,000. Danske Bank A S bought a new position in Texas Pacific Land in the 3rd quarter worth $52,606,000. Finally, Nuveen LLC acquired a new position in Texas Pacific Land during the 1st quarter worth $68,518,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Company Profile

(Get Free Report)

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.

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